Despite the doubts whether Boeing Co will be able to reach its forecast for the fiscal year 2014, the company is very confident of displaying a good fourth and final quarter of the year. The company is said to raise their share repurchase authorization from $10 billion to $12 billion. The company also said that they would increase their quarterly dividend by 25 percent. This just shows that the company is more than just confident about its year’s cash outlook.
Boeing still had a total of $4.8 billion remaining in the company’s previous stock buyback plan. It also raised their dividend to a total from 73 cents to 91 cents per share. Investors sent the company stock up to $124.90, which is a 2.3 percent increase, in afterhours trading.
The shareholders are now more than thrilled for Boeing to deliver cash as the company push the delivery of planes to a record-breaker level. This is definitely a lucky year for the Boeing Co even when the third quarter had not been that good, considering it had low cash generation despite its positive profit rise. The company surely made a blast on their fourth quarter in order to achieve their cash outlook for this year.